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EMS Energy warns of FY15 loss
EMS Energy warned that it will report a net loss for 2015 due to delayed projects, one-time fees and lower share of associates' profits.
EMS, an oil-and-gas contractor, said that delays in the schedule for some projects has led to a delay in recognising revenue, and hence lower profitability.
The company also incurred one-off professional fees and other expenses related to the acquisition of the Koastal Group.
EMS is also expecting a lower share of profit from its associated company.
The company expects to report its results by Feb 29.